Report that Germany weighing ‘shadow budget’ drives euro higher

/ / News

Germany is considering what’s called a “shadow budget” to enable it to increase public investment beyond the restrictions of constitutionally enshrined debt rules,Reuters reported, citing three people familiar with the talks. The report said the move could allow Europe’s largest economy to take advantage of zero borrowing costs to increase investment in infrastructure and climate protection. The euro climbed to the highest level of the day, fetching $1.1048 from a previous close of $1.1030.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.